Core Insights - The article discusses the performance and export trends of China's black metal smelting and rolling processing industry, highlighting a decline in export value in 2025 compared to previous years [1] Industry Summary - In August 2025, the export value of China's black metal smelting and rolling processing industry was 16.42 billion yuan, representing a year-on-year decrease of 13.5% [1] - From January to August 2025, the cumulative export value reached 133.89 billion yuan, showing a slight year-on-year decline of 2.2% [1] - The data indicates a downward trend in the export performance of the black metal industry over the specified period [1] Company Summary - The article lists several companies involved in the black metal industry, including CITIC Special Steel, Hebei Iron and Steel, and others, indicating their relevance in the market [1] - The report by Zhiyan Consulting provides a comprehensive market survey and investment outlook for the black metal mining and selection industry from 2026 to 2032, suggesting potential future developments [1]

法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于盛德鑫泰新材料股份有限公司 2025 年第二次临时股东会的 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履行 了法定职责，遵循了勤勉尽责和诚实信用原则，对本次股东会所涉及的相关事项 进行了必要的核查和验证，核查了本所认为出具该法律意见书所需的相关文件、 资料，并参加了公司本次股东会的全过程。本所保证本法律意见书所认定的事实 真实、准确、完整，所发表的结论性意见合法、准确，不存在虚假记载、误导性 陈述或者重大遗漏，并愿意承担相应法律责任。 本所同意将本法律意见书与本次股东会的决议一并进行公告，并依法对发表 的法律意见承担相应法律责任。 鉴此，本所律师根据上述法律、法规、规章及规范性文件的要求，按照律师 行业公认的业务标准、道德规范和勤勉尽责精神，现出具法律意见如下： 1 上海市锦天城律师事务所 ...

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没 有虚假记载、误导性陈述或重大遗漏。 特别提示： 1. 本次股东会未出现否决议案的情形。 股票代码：300881 股票简称：盛德鑫泰 公告编号：2025-044 盛德鑫泰新材料股份有限公司 2025 年第二次临时股东会决议公告 通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 10 月 9 日 9:15-9:25,9：30－11：30，13：00－15：00； 通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 10 月 9 日 上午 9：15 至 2025 年 10 月 9 日下午 3：00。 2、现场会议召开地点：盛德鑫泰新材料股份有限公司会议室 2. 本次股东会没有新提案提交表决的情况,不涉及变更以往股东会已通过 的决议。 一、会议召开和出席情况 （一）会议召开情况 1、会议召开时间： （1）现场会议时间：2025 年 10 月 9 日（星期四）13：30 （2）网络投票时间： 3、公议召开方式：本次股东会采取现场表决与网络投票相结合的方式召开。 4、会议召集人：公司董事会 5、会议主持人：董事长周文庆先生 6、本次 ...

Core Viewpoint - The special steel sector experienced a significant increase, with a 2.67% rise on October 9, led by Jiuli Special Materials, amidst a broader market uptrend in the Shanghai Composite Index and Shenzhen Component Index [1][3]. Group 1: Market Performance - On October 9, the Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1]. - The special steel sector stocks showed varied performance, with Jiuli Special Materials leading the gains at 8.04%, closing at 26.33 [1]. Group 2: Individual Stock Performance - Key performers in the special steel sector included: - Jiuli Special Materials (002318): Closed at 26.33, up 8.04%, with a trading volume of 295,100 shares and a turnover of 757 million [1]. - Jinzhu Pipeline (002443): Closed at 60.8, up 4.79%, with a trading volume of 259,700 shares [1]. - Xianglou New Materials (301160): Closed at 62.05, up 3.78%, with a trading volume of 36,100 shares [1]. - Taiyuan Iron & Steel (000825): Closed at 4.13, up 3.25%, with a trading volume of 784,400 shares [1]. - Other notable stocks included Shengde Zhengtai (300881), Tongjin Co., Ltd. (603995), and Xining Special Steel (600117), all showing positive gains [1]. Group 3: Capital Flow - The special steel sector saw a net inflow of 88.35 million in main funds, while retail investors experienced a net outflow of 74.58 million [3]. - The overall capital flow indicates a mixed sentiment, with institutional investors showing interest while retail investors withdrew [3].

Core Insights - The special steel sector experienced a slight increase of 0.58% on September 30, with Shengde Xintai leading the gains [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Special Steel Sector Performance - Shengde Xintai (300881) closed at 34.46, up 1.86% with a trading volume of 14,900 and a turnover of 51.55 million [1] - CITIC Special Steel (000708) closed at 13.62, up 1.41% with a trading volume of 173,900 and a turnover of 23.5 million [1] - Taiyuan Iron & Steel (000825) closed at 4.00, up 1.01% with a trading volume of 364,900 and a turnover of 146 million [1] - Other notable performances include Fangda Special Steel (600507) up 0.56% and Xining Special Steel (600117) up 0.31% [1] Capital Flow Analysis - The special steel sector saw a net outflow of 118 million from institutional investors, while retail investors contributed a net inflow of 160 million [2] - The detailed capital flow indicates that major stocks like Shagang (002075) and Taiyuan Iron & Steel (000825) experienced net outflows from institutional and speculative funds [3] - Notably, CITIC Special Steel (000708) had a significant net outflow of 29.28 million from institutional investors, while retail investors showed a positive net inflow of 38.50 million [3]

Market Overview - On September 25, the special steel sector rose by 0.46% compared to the previous trading day, with Xianglou New Materials leading the gains [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Stock Performance - Xianglou New Materials (301160) closed at 63.58, up 2.25% with a trading volume of 28,400 lots and a transaction value of 181 million [1] - CITIC Special Steel (000708) closed at 12.92, up 1.10% with a trading volume of 136,200 lots [1] - Jinzhu Pipeline (002443) closed at 7.35, up 0.68% with a trading volume of 144,800 lots [1] - Other notable performances include Jiuli Special Materials (002318) at 23.03, up 0.57%, and Taiyuan Iron & Steel (000825) at 3.87, up 0.52% [1] Capital Flow - The special steel sector saw a net inflow of 7.496 million from institutional investors, while retail investors contributed a net inflow of 29.624 million [2] - However, speculative funds experienced a net outflow of 37.1203 million [2] Individual Stock Capital Flow - Jinzhu Pipeline (002443) had a net inflow of 19.2741 million from institutional investors, while it faced a net outflow of 11.3191 million from speculative funds [3] - Xianglou New Materials (301160) saw a net inflow of 17.6055 million from institutional investors, with a net outflow of 12.4069 million from speculative funds [3] - Fushun Special Steel (600399) recorded a net inflow of 4.4309 million from institutional investors [3]

Market Overview - On September 24, the special steel sector rose by 0.11% compared to the previous trading day, with Jiuli Special Materials leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Stock Performance - Jiuli Special Materials (002318) closed at 22.90, with a gain of 3.01% and a trading volume of 142,800 shares, amounting to a transaction value of 325 million yuan [1] - Other notable performers included: - Shengde Zhengtai (300881) at 34.04, up 2.53% [1] - Changbao Co. (002478) at 5.56, up 1.65% [1] - Shagang Group (002075) at 5.71, up 1.42% [1] Capital Flow - The special steel sector saw a net inflow of 25.36 million yuan from main funds, while retail funds experienced a net inflow of 38.95 million yuan [2] - Notably, speculative funds had a net outflow of 64.32 million yuan [2] Individual Stock Capital Flow - Jiuli Special Materials had a main fund net outflow of 33.99 million yuan, with retail funds showing a net inflow of 0.37 million yuan [3] - Tai Steel (000825) experienced a main fund net inflow of 5.32 million yuan, while retail funds also saw a net inflow of 0.52 million yuan [3] - Other stocks like Shengde Xintai (300881) and Changbao Co. (002478) faced significant net outflows from main and speculative funds [3]

Core Viewpoint - Shengde Xintai (300881.SZ) plans to issue convertible bonds to raise up to RMB 440 million for the construction of advanced high-nickel seamless pipe manufacturing project [1] Group 1: Convertible Bond Issuance - The company intends to issue convertible bonds with a face value of RMB 100 each, with a term of six years [1] - The net proceeds from the bond issuance will be used for the advanced high-nickel seamless pipe manufacturing project [1] - The bonds will be convertible into A-shares listed on the Shenzhen Stock Exchange's ChiNext board [1] Group 2: Issuance Details - The specific issuance method will be determined by the board of directors in consultation with the lead underwriter [2] - The bonds will be offered to various investors, including individuals and institutions with accounts at the China Securities Depository and Clearing Corporation [2] Group 3: Shareholder Actions - The bond issuance plan is valid for twelve months from the date of approval by the shareholders' meeting [3] - The controlling shareholder and actual controllers have completed a share reduction plan, selling a total of 1,087,800 shares for approximately RMB 34.21 million [3] Group 4: Company Background - Shengde Xintai was listed on the ChiNext board on September 1, 2020, raising a total of RMB 354 million for various projects [4] - The company’s major shareholders include Zhou Wenqing and his family, holding significant stakes in the company [4]

Core Viewpoint - Shengde Xintai (300881.SZ) announced on September 23 that it plans to issue convertible bonds to raise up to 440 million yuan for the investment in an "advanced high-nickel seamless pipe manufacturing project" [1] Financial Performance - The company has shown stable performance in recent years, with projected revenues of 1.207 billion yuan, 1.981 billion yuan, and 2.663 billion yuan for the years 2022, 2023, and 2024 respectively [1] - Net profits attributable to shareholders are expected to be 73 million yuan, 121 million yuan, and 226 million yuan for the same years [1] - Over the past three years, the total cash dividends amounted to 217 million yuan, representing 155.13% of the average distributable profits [1] Recent Results - In the first half of 2025, the company achieved a revenue of 1.49 billion yuan and a net profit of 85 million yuan [1] - The asset-liability ratio stands at 65.37% [1]

Group 1 - The core point of the article is that Shengde Xintai (SZ 300881) held its 15th meeting of the third board of directors on September 22, 2025, to discuss the notice for the second extraordinary shareholders' meeting of 2025 [1] - For the year 2024, Shengde Xintai's revenue composition is as follows: steel pipes account for 76.21%, auto parts account for 18.91%, and steel grating accounts for 4.88% [1] - As of the time of reporting, Shengde Xintai has a market capitalization of 3.8 billion yuan [1]